NIFTY FIFTY

[AMITBE]

Amazing indeed, Amit. Last traded price 2707. Your magical numbers series seems to be right on target. Looking forward to more on your fascinating research on the number and their energies.
regards karthik

Thanks Karthik...nice to know you've followed this thread. There's been fascinating stuff going on and there's been deathly silence here.
Yes, some day when I'm more sure and better researched it would be worth it to share. In the meanwhile I'm posting as much as I can do.
By the way, Trix is kind of nosing up, yes?


The moves over the last couple of days have been to the up, and yet devoid of spiritedness. In the last half hour on the last two sessions the upwards lethagic moves appear to have come on short covering rather than buying.
What does look certain is there is firm resilience to the down.
What the market needs is a trigger to get on with it, even if in the down direction though unlikely. In the absence of a trigger, someone will have to make a bold move. There is enough evidence of support lower down. Being Friday, we are on a bit of a wrong foot to go seeking higher levels though the setting is just fine. Still, it can happen. There's never any rule for the market. Some index heavies are still looking good. At worst we may look at a flatish session with not much gained or lost.

For now as we are sitting above the important corner at 2697 (which has been so difficult for over a week), but to be in a decisive territory and to bring up the numbers again, the Nifty has to close above 2717 though 2727 would be the real thing. Then past 2736 we have 2747 being further numbers in this channel.
Supports are at familiar levels at 2697-2692-2688-2679-2670.

 

[AMITBE]

After falling off 2727 earlier on now it's been taken briefly and needs to be sustained/retested/overtaken etc over the next sessions.
The 2730 intraday high of 2nd December does not really fall into the current numbers and for that reason I am not looking to it.
The next numbers up are 2736 or 2737, and then 2747.

 

[AMITBE]

So the big move finally.
As things are not letting up, to look at some numbers further up, 2755-2756-2757 may well be attempted.

It's obviously the strong hands playing today so I don't really expect a vicious sell out. It'll lose ground at some point but no panic.

 

[karthikmarar]

So to extend the number investigation, the high probability is if the Nifty remains in sync with this series, it's a mark of strength, as coming up along these numbers is not going to be an arduous task no matter if it seeks lower numbers of the series.
The time factor was mentioned yesterday, and we may be looking to some significant moves over the next two or three days.

The levels, we would do well to stay above 2670.
For the rest the levels have all been mentioned in several preceding posts.

. With a good support base been created on the 2647 and up band, it's just a matter of time before another lunge is made to retest 2727 plus levels.

And where is it all leading? It's a fascinating research, and a plausible assumption is that there lies a significant move ahead. How soon? Possibly quite soon.

The levels are pretty much the same.
2697-2707-2717-2727-2736.
2688-2679-2670-2661-2652.

Amit

Simply great I will be watching this space for more on the magical numbers

regards

 

[AMITBE]

Amit

Simply great I will be watching this space for more on the magical numbers

regards

Thanks Karthik...Yes at some point I would post more on the numbers.
Yes the strength has been very visible from the strong base created over the past several sessions, and that's on TA.
To this was added the synced numbers, and the Nifty needed a close above the difficult 2697 mark to turn the corner...and turned it did in great style.
2757 would have been the pick of the numbers and that's we are at close. The perfection is playing out like I've never seen before.

It's clearly going up further now, having firmly moved into a new zone.
No one buys in strong into the dying moments of a Friday afternoon to come back and sell first thing into the new week.
Have a great one all.

 

[kkrish68]

You know what, suddenly discussing individual stocks and asking questions about scrips does not seem as interesting as NIFTY-FIFTY

Keep it going and help us move to a 30K ft level than 500mts

Kind regards
Kishore

Thanks Karthik...Yes at some point I would post more on the numbers.
Yes the strength has been very visible from the strong base created over the past several sessions, and that's on TA.
To this was added the synced numbers, and the Nifty needed a close above the difficult 2697 mark to turn the corner...and turned it did in great style.
2757 would have been the pick of the numbers and that's we are at close. The perfection is playing out like I've never seen before.

It's clearly going up further now, having firmly moved into a new zone.
No one buys in strong into the dying moments of a Friday afternoon to come back and sell first thing into the new week.
Have a great one all.

 

[chennamsetty]

hai amite you have been nearly accurate in short termpredictions and great
work. kindly can you fore cast on longer term.
i have posted a eliot wave count at elliot wave count for sensex thread kindly commet on that. waiting for your valuable suggestions.

 

[AMITBE]

You know what, suddenly discussing individual stocks and asking questions about scrips does not seem as interesting as NIFTY-FIFTY

Keep it going and help us move to a 30K ft level than 500mts

Kind regards
Kishore

Hi Kishore...nice to see you again. How's your study of TA going? Do post from time to time at the other thread.
Yes we are in the midst of an interesting phase here aren't we...I'll keep this up for now and somewhere down the line one of you should take it up.
Bye for now.

 

[AMITBE]

hai amite you have been nearly accurate in short termpredictions and great
work. kindly can you fore cast on longer term.
i have posted a eliot wave count at elliot wave count for sensex thread kindly commet on that. waiting for your valuable suggestions.

Hi chennamsetty...thanks for the kind words.
I've seen your Nifty Elliott wave chart on the other thread and find it quite satisfactory, and yes it does appear to be the third wave we are in.
On the other hand, a condition where the second wave is a sharp retracement would lead to a sideways correction of the wave four. In your chart the second wave does appear to be a sharp pullback (from point 'b' to '2'), and if so, then the activity along the 2000 level line between November 04 to March-April 05 would appear as the sideways correction of the possible wave four. If we look at this assuption as being true, then we could say we are in the middle of wave five at this point.
I don't have a lot of experience of the Elliott theory and the above is merely some thoughts.

We indeed are in a long term uptrend. As for forecasting in a longer time horizon, you may and others like Joy Verma may be better placed at it with your charting facility.
For now I will prefer to go with near term moves.
Great to see you discussing an important and interesting issue and all the best with your work.
Kind regards.

 

[AMITBE]

The current leg of the journey form 2643 through 2661 to 2697 though volatile, has come in a most orderly fashion.
Levels to the down were tested and retested for strength and resilience, while the higher levels were taken in gradual probing moves. Intraday volatility wore less and less, giving an indication of things to come.
Then the final burst past 2707 close.

At these levels much would depend on continued flow of liquidity and on buying support from the big players. The bears would be marauding at every new peak. Volatility should be high.
The breadth and depth has improved a great deal and strong mid and smallcaps should see much better participation.
While the signs are clear for an onwards move in the near term, great caution is the rule for buying decisions. Avoid runaway counters and any counter one is not familiar with.

Its an interesting period ahead in the coming days, to revisit the numbers angle again.
2697 was the suggested important corner for the Nifty and it clearly played out its part. The search is for the next such corner now.
2799 is what is coming up tentatively but may be reviewed over the next couple of days.
This is also the near term initial goal.
2822 and 2832 may witness some intense play and prove to be a highpoint.
Some other numbers to the up immediately are 2777 and 2788. 2767 may be a brief resistance.
2736-2737 are the immediate supports.